New Residential Investment (NRZ) provides me with solid bankable dividends to complement my new tech investments. The stock has been in my portfolio for several years and never failed. The share price has done little in that time – hovering around $15 – $17. The dividend has consistently been at 13%, handily covered throughout by a briliant financial team. I use the share to warehouse cash. Otherwise, as with all my holdings, I keep it to a limit of 5% of the whole portfolio. The P/E is 6.
Nomura has ctarted coverage recently at “Buy” and a price target of 18.5% – a possible 12% uplift.
The Chairman has just bought $990K worth of stock.